13 - Intelligent demand forecasting supported risk management systems for fast fashion inventory management

Abstract

Fast fashion is a well-established and prominent business model in the fashion industry. Featuring products with a very short life cycle is the common characteristic of any fast fashion operations. With this characteristic, fast fashion companies have to face very high demand uncertainty. As a result, fast fashion companies have to carefully forecast the product demand and incorporate risk measures into their inventory planning model. In this chapter, we first examine these related issues. Then, we propose a novel fast fashion demand forecasting-based risk minimization inventory control model. Finally, we discuss future research directions.